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Mak Honours Governor Tumusiime Mutebile with Multibillion Complex

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(L-R) Mrs. Elizabeth Gabona, Prof. John Ddumba-Ssentamu, Hon. Ruhakana-Rugunda, Prof. Emmanuel Mutebile and wife Mrs. Betty Mutebile arrive at the Main Hall.The Prime Minister of Uganda, Rt. Hon. Ruhakana Rugunda on 27th October 2015, laid the foundation stone for the construction of a multi-billion complex in honour of the Governor of Bank of Uganda, Prof. Emmanuel Tumusiime-Mutebile at Makerere University Private Sector Forum grounds. Hon. Ruhakana Rugunda represented the President of Uganda, His Excellency Yoweri Kaguta Museveni.

Prof. Emmanuel Tumusiime-Mutebile also unveiled the artistic impression for the Mutebile Centre of Excellence at the same grounds. The Centre of Excellence, estimated at USD 20 million is a tribute to Prof. Mutebile’s commitment to national and international development. The Mutebile Centre of Excellence for Private Sector Development will be a hub of information, research, innovation and knowledge transfer. To be developed with the aim of promoting projects meant to enhance community development and job creation, the centre will also house Prof. Mutebile’s biography including profiles and documentaries of his life achievements as well as his writings and publication among others.

The distinguished Prof. Emmanuel Tumusiime Mutebile Chair in Monetary Policy, Banking and Finance will be hosted by Makerere University School of Economics under the College of Business and Management Science (COBAMS). The Chair estimated at USD 5 million will be occupied by a distinguished Professor with a task of building Programmes and mobilising resources to sustain and uphold it. According to the Vice Chancellor, Prof. John Ddumba-Ssentamu, the first Chair holder will be identified and accredited by Professor Tumusiime Mutebile.Former Vice Chancellors of Makerere University-Prof. George Kirya(Left) and Prof. Livingstone Luboobi (Right), Centre is the Deputy Vice Chancellor (Finance and Administration) Prof. Barnabas Nawangwe.

The Vice Chancellor described the Mutebile Chair and Centre of Excellence at Makerere University as a golden opportunity for the institution to associate with a person of broadly valued expertise and rich ideas in monetary Policy reforms, banking and finance. He added that Prof. Tumusiime-Mutebile’s rich Knowledge shall widely be shared in academia to create a positive impact on socio-economic transformation of Uganda. Ag. Principal, College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali reading the Citation of Excellence .

“His knowledge and expertise can be harnessed to further inform policy formulation not only in Uganda but the region at large, as we strive to increase socio-economic development towards attaining the national Vision 2040. Makerere University therefore takes the pride in celebrating Prof. Tumusiime-Mutebile’s prominence and reputation at both the national and international levels,” he said.

In his speech read by the Prime Minister, Rt. Hon. Ruhakana Rugunda, H.E Yoweri Kaguta Museveni, applauded Prof. Tumusiime-Mutebile as a brave man who embodies the true spirit of Nationalism with a rich history of providing exceptional service and being true to his word. He commended Makerere University for immortalizing Professor Mutebile through the Endowed Chair and Centre of Excellence.

“This is a landmark occasion as we count down to the centenary celebrations of Makerere University in 2022. For it is Makerere University that has produced many pan-Africanist Presidents and Prime Ministers in addition to Professor Tumusiime-Mutebile. I am proud of the breakthroughs the University has made in Science and Technology and I encourage you to stay on course to advance your vision in illuminating Makerere University’s capabilities on the global scene,” he said.The Deputy Vice Chancellor (Academic Affairs), Dr. Okello Ogwang reading the Oratory of Excellence.

“I also commend all the development partners who have invested in the development of the education at Makerere University since its inception. Makerere has seen a series of developments, innovations andreforms. I salute the partnerships that have been very vital in building capacity,” he added.

As part of the day’s proceedings, the Ag. Principal, College of Business and Management Sciences (CoBAMS), Dr. Eria Hisali read the Citation of Excellence detailing Prof. Tumusiime-Mutebile’s academic excellence at all levels, illustrious career as well as his tremendous contribution to national development.

The Deputy Vice Chancellor (Academic Affairs), Dr. Okello Ogwang highlighted Prof. Tumusiime-Mutebile academic and life achievements in the Oratory of Excellence. “In spite of his heavy commitments in the fiscal industry, Prof. Tumusiime-Mutebile has demonstrated his love for promoting education by participating in actual teaching and supporting various educational institutions within and outside Uganda,” Dr. Okello Ogwang remarked. He also applauded Prof. Tumusiime Mutebile for winning numerous honours, awards and tributes both locally and internationally. Prof. Emmanuel Tumusiime Mutebile seated in the symbolic Chair of Monetary Policy, Banking and Finance

Prof. Emmanuel Tumusiime Mutebile was installed on a symbolic Chair by the Makerere University Acting Chancellor Prof. John Ddumba-Ssentamu amidst applause from Makerere University staff, Bank of Uganda team, family, friends and well-wishers. In his acceptance speech, Prof. Tumusiime Mutebile said holding the Chair of Monetary Policy, Banking and Finance, has opened another window of opportunity for him to serve Makerere University and the people of Uganda.

“Uganda has made impressive strides in both the economic and political areas during the last 30 years. We have overcome those painful days of our history and moved on. I am proud to have been associated with the policies that have brought about the restoration of the economy,” he said.

Commenting on the historic moment and installation, Prof. Tumusiime-Mutebile who was also a Guild President in 1972 commended Makerere University-his alma mater-for the achievements over the years  when he said, “Today and particularly this occasion, presents one of the happiest moments in my life. This is not because distinguished honors are being bestowed on me. It is an occasion to recognize and celebrate the many things that Makerere University, the Government of Uganda and the Makerere University Private Sector Forum have achieved over the last 45 years since I was a student at Makerere University. It is also an occasion to thank all those at Makerere University and in the Private Sector Forum for conceiving this new initiative of the Mutebile Chair and Mutebile Center of Excellence.”The Chairperson Makerere University Council, Eng. Dr. Charles Wana-Etyem

According to the Chairperson Makerere University Council, Eng. Dr. Charles Wana-Etyem, plans for the establishment of Prof. Emmanuel Tumusiime-Mutebile’s Chair in Monetary Policy, Banking and Finance and the Mutebile Chair of Excellence started way back in 2007 when it was first conceived by Makerere University Private Sector- Forum (MUPSF). The idea was approved by the University Council with the aim of bridging the University-Industry divide in socio-economic development.

Several high ranking officials attended the colourful ceremony in the Makerere University Main Hall including Director for Higher Technical, Vocational, Education and Training Mrs. Elizabeth Gabona, who represented the Minister of Education, Science, Technology and Sports, Hon. Jessica Alupo; former Minister of Finance, Planning and Economic Development, Hon. Maria Kiwanuka and her husband- Honan Kiwanuka; a delegation from Bank of Uganda led by the Deputy Governor- Dr. Louis Kasekende; former Chairperson of Makerere University Council Hon. Mathew Rukikaire, Former Chairperson of Makerere University Council, Hon. Mathew Rukikaireformer Vice Chancellors of Makerere University-Prof. George Kirya and Prof. Livingstone Luboobi, Makerere University Management and staff, family members of Prof. Emmanuel Tumusiime Mutebile, and students.

About Prof. Tumusiime-Mutebile

Born on 27th January 1949 in Kabale District– South Western Uganda, Professor Emmanuel Tumusiime Mutebile Kirenga Baryabota joined Makerere University in July 1970 for a Bachelor of Arts Degree in Economics and Political Science. He was later elected Students’ Guild President which eventually brought him in conflict with the then hostile political environment under President Idi Amin Dada. He faced persecution and had to flee the country to complete his Bachelor’s degree course at Durham University, UK where he graduated with a Second Class Honors Upper Division in June 1974.

The Prime Minister Hon. Ruhakana Rugunda,  Prof. Mutebile and other officials after unveiling the foundation stone for Mutebile Centre of Excellence.

His undergraduate dissertation was outstanding that it won the first prize in Economics at Durham University. Subsequently, he successfully completed the first year of his postgraduate studies in Economics in June 1975 and embarked on Doctoral studies by research at Oxford University. As part of his PhD studies, Mutebile conducted field work in Tanzania while at the same time teaching at the University of Dar-es-Salaam. However, the outbreak of Uganda`s Liberation War of 1979 interrupted his studies after which, he returned to Uganda and started on the process of rebuilding the then shattered economy. On 14th December 2006, he was appointed Honorary Professor by Makerere University.

His academic excellence is attested by:

  • A Tutorial Fellow at Balliol and St. Peter`s College, Oxford University, 1974 – 1977.
  • A Visiting Lecturer at Furnham Centre for International Briefing – 1977.
  • A lecturer of Industrial Economics at the University of Dar-es-Salaam 1977 – 1979.
  • Several books authored in the fields of economic reforms, monetary policy and banking.
  • Published pamphlets and booklets in the fields of banking and fiscal reforms.
  • Contributed numerous articles in periodicals, magazines and newspapers.
  • Countless Radio and TV interviews

Article by: Mak Public Relations Office

 

 

Elias Tuhereze

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The 3rd Fundis and Technicians sensitization event and exhibition held successfully

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The 3rd annual Fundis and Technicians sensitization event and exhibition by manufacturers of building materials organized by the Department Architecture and Physical Planning at the College of Engineering, Design, Art and Technology (CEDAT), Makerere University came to a close with a call for increased partnerships between training institutions and the community.

The event that attracted 200 participants including masons, fundis, painters, builders, metal and electrical fabricators ran from Thursday 24th to Friday 25th October 2024 at CEDAT. It was supported by several stakeholders and was characterized by training sessions and an exhibition of building materials by different companies that make cement, paint, water tanks tiles and many more.

Prof. Henry Alinaitwe, the Deputy Vice Chancellor in charge of Finance and Administration, Makerere University.

Prof. Henry Alinaitwe, the Deputy Vice Chancellor in charge of Finance and Administration represented the Vice Chancellor, Prof. Barnabas Nawangwe at the opening of the training. In his remarks, he extended appreciation to the technicians for accepting to take part in the training which he said was key in ensuring that they gain from continuous learning. Prof. Alinaitwe observed that although some of them did not get through formal training, it was important that they took part in such training programs to keep abreast of the developments in the construction industry where they undertake the bulk of the work as masons, technicians, plumbers, and metal fabricators.

‘Keep improving, we need to up our game in terms of quality’, he said while making reference to the need for quality output.  He cautioned them on issues of cost and cheating of their clients by making realistic costs.  ‘We need to cost the work well taking into account the materials, the labor, the equipment used, and the overheads’.  The other area that needed to be taken care of by the technicians included time management, which reflects on attitudes towards work, team work.   While addressing the gathering in his capacity as Chairman of the Engineers Registration Board, Prof. Alinaitwe said the upcoming engineering Registration Bill, if approved, has a provision for the registration of all artisans and hence the need to have the minimum requirements for the stakeholders to be registered. He also stressed the need to bring on board as more women as possible.  ‘We want to see more women, who can do some aspects in construction better than men like painting.

Prof. Moses Musinguzi, the Principal of the College of Engineering, Design, Art and Technology, Makerere University.

Prof. Moses Musinguzi, the Principal of the College of Engineering, Design, Art and Technology while welcoming the trainees to the college said the training is a good initiative that will help address challenge of skill and work match.  He encouraged the trainees to do smart work, and take due consideration of ethics and customer care. He encouraged the department to extend the training opportunity to other units of the college and the university and also make it more formal, as part and parcel of the training program of the college in liaison with bodies like UBTEB.

Assoc. Prof. Kizito Maria Kasule, the Deputy Principal CEDAT while appreciating the initiative of the department said countries like Germany have apprenticeship training that help the training of students to gain skills equivalent to those acquired while in formal institutions of learning.  He said the academia in Uganda is increasingly recognizing the importance of the informal sector in the growth of the country. ‘We need to learn from you. Almost 90% of the people in the construction industry have been informally trained’. He said by learning from each other, the two sectors jointly make a contribution towards the development of the country.

Dr. Amin Tamale Kiggundu, the head of the Department of Architecture and Physical Planning said the initiative, a community outreach program of the college started three years ago in the year 2022 with 60 Fundis and masons, in 2023, the number was increased to 120 Fundis and the current 2024, was 200 Fundis of various categories, including painters, builders, metal fabricators, plumbers and electrical fabricators. He said this community outreach program aims at sharing the accumulated scientific knowledge in building, design and construction technologies at CEDAT, sharing the expertise, knowledge and experiences with communities in greater Kampala and hence bridging the existing knowledge and skills gap between the training institutions and the communities.

Dr. Amin Tamale Kiggundu, the head of the Department of Architecture and Physical Planning, Makerere University

The 21st century is characterized by collaboration, partnerships, and establishment of knowledge economies.  He said based on the trainings held so far, it is clear that partnerships between the training institutions and the communities were possible especially the Fundis who are closer to the communities. ‘We also want to learn from the Fundi’s experiences, how they are able to connect to the communities in some cases better than those who have gone through the training institutions’, he said. He further noted that the majority of fundis are young people that need to be supported with skills and other ways of nurturing them. The dream of the department, he said is to introduce an open door policy that allows fundis and other university students to come to learn.  

Several organizations supported the event and participated in the exhibition and they included Habitat for Humanity, Uganda, Green Building Council Uganda, The National Building Board, Uganda Clays Limited, Centenary Bank, Steel and Tube Industries Ltd, Simba Cement, Plascon, Goodwill, Cresttanks among others.

Alex Isemaghendera

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MURBS has declared 13.40% interest on members’ balances for the financial year that ended on 30th June 2024.

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By: Ritah Namisango

Dr. Elizabeth Patricia Nansubuga, Chairperson of the Makerere University Retirement Benefits Scheme (MURBS) Board of Trustees, announced this milestone during the 14th Annual General Meeting (AGM) for the year 2023/24 held on Thursday, 24th October 2024, at Makerere University Main Campus, School of Public Health Auditorium.

The AGM attracted various stakeholders, including trustees, Audit Committee Chairperson CPA David Ssenoga, Board Evaluation Consultant Vincent Kaheeru, URBRA Representative Mark Lotukei, Audit Committee members, co-opted members, and university administrators.

Presenting the performance report, on behalf of the Board of Trustees, Dr. Nansubuga highlighted that this is the highest interest declared by the scheme in the past five years, and she anticipates continued improvements. She noted that for the previous financial year, which ended in June 2023, the Board of Trustees declared an interest an interest of 12.34%.

Dr Nansubuga also announced that the scheme has achieved a Net Investment Income of UGX 44.6 billion, far higher than the UGX34.4 billion collected in Contributions during the year.

The Chairperson of the Board also revealed that the fund value had grown from UGX352.4 billion recorded at the end of the last financial year to UGX409.2 billion, indicating an increase of 16.1%.

“By 30th June 2023, MURBS had a fund value of UGX 352.4 billion. The Board of Trustees targeted Fund growth of 17%, and I am glad to inform you, that the fund value of MURBS, as per the Audited Financial Statements of 30th June 2024 is UGX 409.2 billion, which is an increase of 16.1%. This achievement was made possible by strategic periodical activities undertaken by the Board and our fund managers, supported by the strong oversight committees of the Board,” she reported.

Dr. Elizabeth Patricia Nansubuga(Centre) responding to questions from members.

She attributed the positive growth to factors such as improved debt recovery, operational efficiency, timely remittance of contributions by the sponsor (Makerere University), an increase in project and contract contributions, and the recovery of UGX8.85 billion in debts.

Dr. Nansubuga also expressed gratitude to Makerere University, the scheme’s sponsor, for consistently remitting contributions, a key factor that has significantly contributed to MURBS’ smooth operation. “I am happy to announce that the sponsor-Makerere University remitted your retirement benefits for the financial year 2023/24,” she said.

In the same development, Dr. Nansubuga reported that MURBS registered a legal victory against Uganda Revenue Authority (URA) over a real estate investment in Sonde undertaken in 2019, and which URA sought to tax heavily. She notified the AGM that MURBS won the case and was awarded costs which also set a precedent.

Consultant Mr. Vincent Kaheeru and CEO of Profiles International

“On behalf of the Board of Trustees, I am pleased to inform you that during the financial year, we received a favorable outcome on a key court case. How did we end up with this case? In 2019, MURBS invested in real estate, we bought land in Sonde,” Dr Nansubuga explained.

“Uganda Revenue Authority (URA) then charged us with a tax assessment worth UGX600 million. It has been four (4) years in the tax appeals tribunal. Since then, the lawyers, the former and current trustees, have been appearing before the appeals tribunal, but in December 2023, MURBS won the case. We challenged URA, and this case was awarded with costs. URA has to pay MURBS. We therefore saved UGX600 million,” she added.  

In terms of governance, Dr Nansubuga said that the scheme made changes in the board. Initially, the trustees were six and they needed a seventh member, and following a competitive race, they recruited another trustee; CPA Edina Rugumayo who has over thirty years in accounting.

Part of the MURBS members who physically attended the Annual General Meeting

“In terms of governance, we continue to uphold good governance practices and we align with international standards. Last year during the presentation, I said we were six and we needed to have the seventh trustee because the Board composition is supposed to be seven,” she explained.

“So, following a competitive process, we recruited an independent trustee. It was a very competitive position. You must have served on board which has over UGX50 billion. So, from that process, we were able to recruit CPA Edna Rugumayo Simbwa. She is a certified public accountant with over thirty years of experience in accounting, taxation, and corporate governance,” she mentioned.

She also thanked other stakeholders for making sure that MURBS activities run smoothly. These entities include Makerere University, KPMG, Gen Africa, Arcadia Advocates, Zamara, URBRA, and Stanbic Bank among others.

While discussing investments, Dr. Nansubuga mentioned that 86% of MURBS’ funds are currently invested in government bonds, but added that the Board is exploring diversification to reduce risks. 

“86% percent of our money is invested in government bonds, and sometimes, you do not have to put all your eggs in one basket, there is a high concentration of risk. so that is one of the key material risks that we want to address to reduce the amount we have in government securities. We want to diversify our portfolio and avoid investing heavily in government securities. The Board will venture into other fields in order to earn money or return on investment from the diverse undertakings,” she said.

Mr. Mark Lotukei, represented the CEO of Uganda Retirement Benefits Regulatory Authority

In terms of membership, Dr. Nansubuga reported a 4.4% increase, with the number of members rising from 8,229 to 8,590. She attributed this growth to the reinstatement of in-house beneficiaries and an increase in project and contract staff.

Dr. Kakuba also thanked the sponsor-Makerere University for remitting the membership contributions timely which has helped the scheme to grow.

Dr. Godwin Kakuba -Secretary, MURBS Board of Trustees, who presented the record of the 13th Annual General Meeting stressed that the AGM climaxes a financial year and the Board of Trustee has been vigilant on this and has not missed any AGM for 14 years now.

“We applaud the sponsor because many of these positives in the chairperson’s report can only be attributed to the support by the sponsor through fulfilling the obligation of remitting members’ contributions to the scheme,” he added.

Dr. Godwin Kakuba (L) and Asad Ssenoga

Partner Asad Ssenoga, an independent auditor who audited the scheme said that he was impressed with the level of compliance that the scheme exhibited in all aspects. He said they focused on ensuring that the member contributions are supported with statements and allocated to members appropriately.

“Overall we were satisfied with the work we did on the audit, the numbers that were presented by the Chairperson are the correct numbers that we audited. We were comfortable with those numbers, due process was followed during the audit,” he said.

Mr. Mark Lotukei who represented the CEO of Uganda Retirement Benefits Regulatory Authority (URBRA) thanked the Trustees for always prioritizing governance, which has helped them to reach several milestones.

Members of the MURBS Secretariat led by Ms Susan Khaitsa(Centre)

“As URBRA, we look at governance as the biggest component of our compliance. MURBS Trustees from the former to the current, have taken governance as the most important aspect. We really encourage them to continue with this good practice because governance informs all the other aspects,” he said.

Mr. Arthur Kibira, a member in attendance, expressed his appreciation for the Board’s efforts. He urged them to explore higher-risk investments for potentially greater returns. He expressed concern over the scheme’s heavy reliance on government bonds.

“Dr Elizabeth Nansubuga, I want to congratulate you, and your team and also congratulate ourselves. But, I want to believe that there is room for improvement. I am one of those who do not believe that the sky is the limit, we are limited by our own thinking. I am thinking that high risks give high returns. Is there a way of managing those risks, so that we could push this 13.40% interest to a figure much higher? If we do so, we shall say we have learnt how to manage risks,”, he guided.

Ritah Namisango

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Makerere University at the 2024 O.R. Tambo Africa Research Chairs Annual Gathering in Ouagadougou, Burkina Faso

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Uganda’s Chair elect, Prof. David Meya of Makerere University’s College of Health Sciences (extreme left) and other O.R. Tambo Africa Research Chairs

The Research Chairs concept is similar to Centers of Excellence (for instance in supporting world-class research in a priority area), but also has many distinguishing features. Most notably, it recognizes individual excellence, leadership and talent. The O.R. Tambo Africa Research Chairs Initiative (ORTARChI) builds on the work of Oliver Tambo, a prominent South African and pan-Africanist with a science education background, who believed in creating change through education and in cooperation and solidarity among African nations. The Initiative focuses on celebrating his legacy in building knowledge-based economies for the advancement of Africa.

ORTARChI builds on and leverages existing continental frameworks and interventions geared towards institutional capacity strengthening; recruitment and retention of excellent researchers; and incentives to support research that contributes to socio-economic and transformative development. 

Ten (10) O.R. Tambo Africa Research Chairs across seven (7) countries in Africa, namely; Botswana, Burkina Faso, Ghana, Mozambique, Tanzania, Uganda and Zambia have been selected for funding through a rigorous and competitive two-stage review process. These research chairs are focused on research priorities identified by each host institution in conjunction with, especially the Science Councils, and in alignment with AU Agenda 2063 and STISA 2024.

[L-R] Prof. Henry Alinaitwe (DVC F&A, Mak), Dr. Dorothy Ngila (Director, NRF), Ms. Natasha Allie (CEO Oliver and Adelaide Tambo Foundation), Dr. Martin Ongol (Ag. Executive Secretary, UNCST), Associate Professor David Meya (Uganda Chair Elect, ORTARChI) and Assoc. Prof. Robert Wamala (Director, DRGT)

Prof. Noble Banadda from the College of Agricultural and Environmental Sciences had been inaugurated as one of the first 10 (ten) Oliver Tambo (ORTARChi) Chairs. Unfortunately, Prof. Banadda (R.I.P) passed on in July 2021, which created a vacuum. To ensure that Uganda and Makerere University continue to tap into the ORTARChi, we are glad to announce the appointment of Associate Professor David Meya from the College of Health Sciences at Makerere University for the purpose. The appointment will attract USD 170,000 annually for 5 years for graduate research with a target of training 5-6 PhDs, 10-15 Post-doctoral fellows and 10-12 Masters of Medicine and Master of Science Students at Makerere University and Mbarara University of Science and Technology.

Makerere University has had the pleasure of attending 2024 O.R. Tambo Africa Research Chairs Annual Gathering in Ouagadougou, Burkina Faso. The annual gathering is co-hosted by the Joseph Ki-Zerbo University, National Research and Innovation Fund for Development (FONRID) and the National Research Foundation (NRF) of South Africa. The theme for this year’s gathering is: African Sovereignty: A Catalyst for Research Collaborations and Social Impact in the Continent“. At the annual gathering, Uganda was represented by Associate Prof. David Meya (Uganda Chair Elect, ORTARChI), Prof. Henry Alinaitwe (Deputy Vice Chancellor Finance and Administration, Mak), Associate Prof. Robert Wamala (Director, Research and Graduate Training) and Dr. Martin Ongol (Ag. Executive Secretary, UNCST). Assoc. Prof. David Meya – ORTARChI Chair Elect – is from Makerere University’s School of Medicine at the College of Health Sciences.  

[L_R] Prof. Henry Alinaitwe (DVC F&A, Makerere University), Dr. Dorothy Ngila (Director, NRF), and Assoc Prof. Robert Wamala (Director, Mak DRGT)

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